Join hundreds of new markets tax credit (NMTC) professionals for Novogradac’s two-day conference. Connect with industry professionals, potential partners, and experts in the field to foster collaboration and to stay informed about industry trends. Dudley Ventures is proudly sponsoring this event.
Our mission of renewal and revitalization of low-income communities nationwide has never been more urgent. Over the past 10 years, DVCI’s New Markets Tax Credit investments have directly created over 11,000 quality permanent jobs. A majority of these jobs are accessible to persons facing barriers to quality, living wage employment, a key factor in breaking the cycle of persistent poverty. In 2020 alone, DVCI provided $58,000,000 in NMTC allocation to 8 projects, supporting $245,000,000 in total development costs. Additionally, our prior round projects have been instrumental in battling the Covid-19 pandemic.
AeroFarms, a leader in indoor vertical farming, has received its certificate of occupancy for expansion of its global headquarters in Newark. To support its corporate expansion, AeroFarms recently completed the build out of an additional 25,000 square feet at its headquarters for new office space and more expansive R&D and Innovation Centers of Excellence.
Commercial tenants at the Brooklyn Navy Yard will now have access to more manufacturing training. The Brooklyn Navy Yard Development Corporation teamed with Lincoln Educational Services Corporation to provide job training in computerized manufacturing to employees of the tenant companies at the Yard. The training and workforce development program will mark the first joint effort in the partnership between the Brooklyn Navy Yard and Lincoln Tech schools.
Thaine Fischer accepted the 2021 Small Business of the Year award on behalf of The Monarch during the Ogden-Weber Chamber of Commerce Annual Gala on Thursday, April 15, 2021, at Peery's Egyptian Theater. The Monarch is the adaptive reuse of the 58,000 square-foot, historic Ben Lomond Garage into a creative and arts-focused mixed-use development in Ogden, Utah. DV Community Investment is proud to have provided $8MM in #NMTC allocation to this transformative project.
The New Orleans Military and Maritime Academy has signed an agreement with the Algiers Development District to allow the school to expand at the former Federal City site. The three-year lease option grants NOMMA the ability to expand their campus and have additional space for academic instruction, indoor and outdoor dining, a gymnasium and a career and technical education center to serve the school’s rising enrollment, a news release said. The option allows NOMMA to assume control of two additional parcels for building expansion on approximately 3.1 acres located directly behind the school on Patterson Road and land and buildings directly across from the front of the school. In addition, a third parcel of 5.3 acres will serve as the athletic field once the New Orleans Police Department exits the site in 2022.
NTCIC announces the closing of $1.7 million in New Markets Tax Credit allocation for the historic Odell’s building in Baltimore, MD. The redevelopment efforts will reactivate the 18,000 square foot landmark that was once home to a dance academy with royal ties, as well as the famous Odell’s nightclub. It will continue the growth of Baltimore’s Arts District and become the North Avenue Educational Hub, a new home to two local nonprofit organizations dedicated to enriching the lives of students, Young Audiences of Maryland and Code in the Schools. This is the 9th project to be supported through NTCIC’s Irvin Henderson Main Street Revitalization Fund.
New York Yimby - The Brooklyn Navy Yard Development Corporation this week announced two large technology and manufacturing leases at Building 127. Together, the new leases measure up to 56,000 square feet and represent a robust year of sales and progress within Brooklyn Navy Yard.
Baltimore Sun - A North Avenue building that once housed the celebrated Odell’s nightclub is poised for another life. Two nonprofits, Young Audiences of Maryland and Code in the Schools, will be the new tenants in this solidly constructed building about to undergo a $7 million renovation.